The notice says there was an error in he credits for qualifying children and other dependents, but I can't figure out what the error is. All I did was report I have 2 children and turbotax calculated the child tax credit for me as $4000, but the IRS says it should have been $2000. I don't get it.
How old are your children? To be a qualifying child for the 2021 tax year, your dependent generally must:
For tax year 2021, a qualifying child is an individual who did not turn 18 before January 1, 2022, and who satisfies the following conditions:
How old are your children? To be a qualifying child for the 2021 tax year, your dependent generally must:
For tax year 2021, a qualifying child is an individual who did not turn 18 before January 1, 2022, and who satisfies the following conditions:
there may be something more fundamental incorrect with your tax return as most people were eligible for up to $3600 per child
Did you earn less than $150,000 (joint) and did the children live with your for at least 6 months of 2021? if yes to both, then your tax credit should have been a lot larger. Can you confirm whether you can answer 'yes' to both, in which case there is an error in how you entered critical information into TT.
but if you can't answer 'yes' to the 2 items above, it's odd, because everything to calculate the $4000 credit is automated by TT. Look at how your two children are listed on the tax return. there are two little check boxes WAY over to the right of their names - is the 'qualifiying child' box checked for both of them?
Also, is the notice for 2020 or 2021 tax year?